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The Firm’S Patrimony €“ An International Approach


  • Lucian Constantin Gabriel BUDACIA


This article is meant to reinterpret the balance equation of the Patrimony. Any book about the Foundations of Accountancy presents in the chapter “The Object of Accountancy†, the patrimonial equation mentioned above. We state the following affirmation: in the accountancy of a firm, everything is thought over from the point of view of the respective firm. However, this small detail seems to have been overlooked by authors of accountancy manuals when they presented the equation mentioned above. And we observed that this small detail attracted a lot of confusion even among people with many years of experience in accountancy. This article will offer a new point of view regarding the concept of a firm’s Patrimony on an international approach.

Suggested Citation

  • Lucian Constantin Gabriel BUDACIA, 2010. "The Firm’S Patrimony €“ An International Approach," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 5(4(14)/ Wi), pages 311-316.
  • Handle: RePEc:ush:jaessh:v:5:y:2010:i:4(14)_winter2010:p:117

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    References listed on IDEAS

    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "Growth in a Time of Debt," American Economic Review, American Economic Association, vol. 100(2), pages 573-578, May.
    2. Saleh, Ali Salman, 2003. "The Budget Deficit and Economic Performance: A Survey," Economics Working Papers wp03-12, School of Economics, University of Wollongong, NSW, Australia.
    3. Helene Poirson Ward & Luca A Ricci & Catherine A Pattillo, 2004. "What Are the Channels Through Which External Debt Affects Growth?," IMF Working Papers 04/15, International Monetary Fund.
    4. Jaejoon Woo & Manmohan S. Kumar, 2010. "Public Debt and Growth," IMF Working Papers 10/174, International Monetary Fund.
    5. Winston Moore & Chrystol Thomas, 2010. "A meta-analysis of the relationship between debt and growth," International Journal of Development Issues, Emerald Group Publishing, vol. 9(3), pages 214-225, September.
    6. Schclarek, Alfredo, 2004. "Debt and Economic Growth in Developing and Industrial Countries," Working Papers 2005:34, Lund University, Department of Economics.
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    More about this item


    accountancy; patrimony; assets; liabilities; owner’s equity;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting


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